Results for "annuities"

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Subprime exposure afflicts Security Benefit Life Insurance

June 30, 2008

Analysts concerned about Security Benefit Life Insurance Co.'s investments in subprime-mortgage-backed securities have cut the firm's financial ratings and are keeping a careful eye on the Topeka, Kan., carrier. "This company has the highest...

Mutual funds face competition from ETFs, VAs and others

June 30, 2008

The combined total launches last year of exchange traded funds, variable annuities and closed-end funds surpassed open-end mutual fund launches for the first time, according to Boston-based research firm Cerulli Associates Inc. Of the 820 fund...

SEC OKs proposed annuity rule

June 25, 2008

Equity index annuities could be regulated as securities if a proposal approved 3-0 today by the Securities and Exchange Commission is finalized. Such annuities — insurance contracts under which payments to the purchaser are dependent on the...

Market conditions right for fixed annuities

June 23, 2008

Market turmoil and rising interest rates might kick off a new season for the fixed annuity as the product emerges from the shadow of its variable cousin, an industry expert said. "If you look analytically at market conditions, you find the variable...

Annuities winning a place in target date strategies

June 23, 2008

Embedding annuities into target date funds might be the key to offering annuities as an investment option in 401(k) plans. Despite mounting interest in retirement income products, 401(k) plan executives have been slow to offer annuities as a...

NAIC soon to consider working group on annuity disclosure

June 16, 2008

Supporters of simplified disclosures for variable annuities may get a boost from a proposal that state insurance regulators will soon consider. The National Association of Insurance Commissioner's life insurance and annuities committee is in...

Regulation, courts still transforming insurance products

June 9, 2008

A combination of regulatory developments and court cases since 1998 has molded annuities and insurance products into what they are today — and that development continues. From the Pension Protection Act to the Financial Industry Regulatory...

Brokers, insurers juggle hot potato of VA suitability

June 9, 2008

Both brokers and insurers bear responsibility for the suitability of variable annuity sales, but at different points in the sales process, industry officials said at a conference last week. "Who really should own suitability? On the one hand,...

Life insurance seen moving toward federal charter

June 9, 2008

An optional federal charter and a tax environment that favors annuities are in the cards through the next 10 years for the life insurance industry. "With the population aging, you'll have more efforts from the regulatory standpoint for enhanced...

Age not automatic criterium for class actions

June 3, 2008

Plaintiff’s attorneys are going to have a tougher time seeking class action status for cases alleging the improper sale of an annuity — especially if older individuals are involved, defense lawyers said at the NAVA 2008 Compliance and Regulatory...

Retirement income products just can't get adviser love

June 2, 2008

Like Goldilocks, financial advisers can't seem to find many new retirement income products that are "just right." They complain that manufacturers' creations are too complex, too costly and too inflexible. Manufacturers acknowledge the advisers'...

Brokers face insurance kickback investigation

June 2, 2008

A group of single-premium annuity pension plan brokers who allegedly took kickbacks from insurance carriers is under investigation by the state of Connecticut and may face steep penalties, according to Attorney General Richard Blumenthal. The...

New annuity-wrapped managed account sparks interest, confusion

June 2, 2008

The first income guarantee wrap-per around a managed-account portfolio hasn't even been sold yet, but its mere existence has sparked growing interest in retirement income products within the managed-accounts industry. Since the March launch...

Insurance carriers gear up for VA product season

May 12, 2008

As the weather heats up in May, so does the competition among insurance carriers that are releasing new features for their variable annuities. Offerings this season include enhanced riders as well as glitzy subaccount choices, or the investments...

AXA Equitable jumps into retirement annuities market

April 28, 2008

Retirees are increasingly worried that they will live too long and their savings will run out, and financial services companies are noticing. AXA Equitable Life Insurance Co. is the latest vendor to offer a financial product aimed at retirees...

Barclays chooses MetLife as annuity provider

March 28, 2008

Barclays Global Investors has selected MetLife as the income annuity provider in its SponsorMatch 401(k) program. MetLife is bringing in its deferred income annuity as an asset allocation option in a defined contribution plan. Launched last...

Pershing makes annuities available to B-Ds

March 25, 2008

Pershing LLC today made annuities available to its introducing broker-dealer customers through the Subscribe annuity platform. These annuities are from Principal Financial Group, Symetra Life Insurance Co., and companies that are affiliated...

Retirement Income: Advisers still poke holes in retirement income products

March 24, 2008

Even as the financial services industry scurries to provide advisers with better retirement income vehicles, advisers continue to criticize the new products. Insurance companies were first to the table, offering annuities with guarantees, but...

Insurance industry expects a tax hike but not this year

March 3, 2008

Although 2008 probably won't be a year for any significant tax changes, the insurance industry is preparing for 2009 and 2010, when tax increases appear likely. "Every new president puts a major tax bill through Congress," said Joseph McKeever...

Insurers are touting no-load, low-cost VAs

March 3, 2008

Registered investment advisers just might be the next big ticket for the insurance industry. That is what carriers are betting on as they craft new variable annuity products for a fee-only philosophy. "The issue with the variable annuity has...

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